Overview
Discussions Key data points
Last release
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Observation period
Dec 31, 2024
Next release
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Forecast
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Highest
11.00 % on May 31, 1996
Lowest
3.00 % on Jun 30, 2007
About Ethiopia interest rate
In Ethiopia, interest rates decisions are taken by Monetary Committee of the National Bank of Ethiopia. The official rate is the bank’s savings rate.
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Frequently Asked Questions
Ethiopia interest rate is 7% at the moment.
Last month Ethiopia interest rate was 7%, and the month before that it amounted to 7%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.